Company Registration No. 05816689 (England and Wales)
Solar Gates UK Ltd
Unaudited accounts
for the year ended 31 May 2023
Solar Gates UK Ltd
Unaudited accounts
Contents
Solar Gates UK Ltd
Company Information
for the year ended 31 May 2023
Directors
Mr Neil Sampson
Mr Christopher Long
Mr Steven Billot
Company Number
05816689 (England and Wales)
Registered Office
The Packhouse
Heath Road
Boughton Monchelsea
Maidstone
ME17 4JB
Accountants
Rustrick Accountants Limited
380A New Hythe lane
Larkfield
Maidstone
Kent
ME20 6RZ
Solar Gates UK Ltd
Statement of financial position
as at 31 May 2023
Tangible assets
262,126
292,846
Inventories
381,052
197,332
Cash at bank and in hand
201,005
39,551
Creditors: amounts falling due within one year
(609,340)
(367,162)
Net current assets
689,384
161,159
Total assets less current liabilities
951,510
454,005
Creditors: amounts falling due after more than one year
(21,063)
(53,000)
Provisions for liabilities
Deferred tax
(65,531)
(53,419)
Net assets
864,916
347,586
Called up share capital
100
100
Profit and loss account
864,816
347,486
Shareholders' funds
864,916
347,586
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 December 2023 and were signed on its behalf by
Mr Neil Sampson
Director
Company Registration No. 05816689
Solar Gates UK Ltd
Notes to the Accounts
for the year ended 31 May 2023
Solar Gates UK Ltd is a private company, limited by shares, registered in England and Wales, registration number 05816689. The registered office is The Packhouse, Heath Road, Boughton Monchelsea, Maidstone, ME17 4JB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Over period of lease
Plant & machinery
15% reducing balance/20% straight line
Motor vehicles
15% reducing balance
Fixtures & fittings
15% reducing balance
Computer equipment
15% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Solar Gates UK Ltd
Notes to the Accounts
for the year ended 31 May 2023
Expenditure on research and development is written off in the year in which it is incurred.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 June 2022
4,784
260,469
156,081
10,563
13,296
445,193
Additions
-
120,199
12,750
-
3,454
136,403
Disposals
(1,096)
(147,882)
-
(10,563)
(3,825)
(163,366)
At 31 May 2023
3,688
232,786
168,831
-
12,925
418,230
At 1 June 2022
3,191
98,717
41,401
6,503
2,535
152,347
Charge for the year
319
46,977
18,755
609
2,020
68,680
On disposals
(745)
(55,399)
-
(7,112)
(1,667)
(64,923)
At 31 May 2023
2,765
90,295
60,156
-
2,888
156,104
At 31 May 2023
923
142,491
108,675
-
10,037
262,126
At 31 May 2022
1,593
161,752
114,680
4,060
10,761
292,846
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
10,999
8,458
Work in progress
102,750
13,500
Finished goods
278,302
183,832
Solar Gates UK Ltd
Notes to the Accounts
for the year ended 31 May 2023
Amounts falling due within one year
Trade debtors
643,684
229,537
Accrued income and prepayments
33,487
21,091
Other debtors
39,496
40,810
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
10,000
Obligations under finance leases and hire purchase contracts
6,375
1,375
Trade creditors
170,232
144,701
Taxes and social security
239,654
58,197
Other creditors
37,146
50,114
Loans from directors
-
4,000
Deferred income
84,929
94,910
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
1,063
-
9
Deferred taxation
2023
2022
Accelerated capital allowances
65,531
53,419
Provision at start of year
53,419
48,973
Charged to the profit and loss account
12,112
4,446
Provision at end of year
65,531
53,419
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Solar Gates UK Ltd
Notes to the Accounts
for the year ended 31 May 2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
12
Average number of employees
During the year the average number of employees was 20 (2022: 20).